KUALA LUMPUR: Axiata Group Bhd has put the listing of its prized subsidiaries, edotco Malaysia Sdn Bhd and Boost Holdings Sdn Bhd on hold.

       President and group CEO Datuk Izzaddin Idris said the group was not in a rush to go into the initial public offering (IPO) market yet.

       “For edotco, it has invested in Myanmar, we are not quite sure how the market will perceive an IPO involving Myanmar. So we need to tackle that matter first,” he told reporters after the group's financial year 2021 results briefing on Tuesday.

       He explained that edotco managed to raise capital to do its expansion without going into the public market.

       “We have seen the acquisition of Touch Mindscape Sdn Bhd for RM1.7bil with RM1.4bil debt and RM300mil from its internal resources.

       “So there is no restriction or limitation for us to list edotco [which] was meant to raise capital,” Izzaddin said.

       Meanwhile, for Boost, he said the group would wait for the announcement of the digital banking license by Bank Negara, which is expected to be awarded next month.

       “The value of the company will certainly be enhanced if we have the digital banking license. It will take awhile,” he added.